Manulife bulks up with ex-Coller, HarbourVest execs

The investment unit of Canada's largest insurer has added two secondaries professionals to its New York-based team.

Manulife Investment Management has continued the build-out of its secondaries investment team with the hire of two professionals who have experience at Coller Capital and HarbourVest Partners.

Jeffrey Jack and Peter O’Hanlon joined the Canadian insurance giant in July, according to their LinkedIn profiles. Jack, who joins as a director, spent four-and-a-half years at Coller where he was most recently an investment manager. He also has experience at StepStone and Ardian.

O’Hanlon joins as an associate director. He spent three years at HarbourVest until 2018 and has also worked at Wells Fargo Securities and Cambridge Associates, according to his LinkedIn.

Both are New York based and it is understood that they will focus on GP-led deals in the mid-market.

Toronto-headquartered Manulife hired Jeff Hammer and Paul Sanabria, former co-heads of Houlihan Lokey‘s illiquid financial assets practice, last October to launch a secondaries investment unit, as Secondaries Investor reported.

Manulife IM is the investment unit of the C$1.24 trillion ($924 billion; €786 billion) insurer which provides financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions. It acquired insurer John Hancock in 2004 and continues to operate as John Hancock in the US.

In a Q&A with Secondaries Investor in November, Hammer, Sanabria and global head of private markets Stephen Blewitt said the unit would focus on the mid-market and invest between $50 million and $150 million in deals, as well as participating in larger transactions as a syndicatee.

The unit plans to raise third-party capital funds and separately managed accounts, and these may ultimately be dedicated to separate strategies, such as private equity, private credit and, potentially, real estate and other real assets.

A Manulife spokesman did not comment on the hires.